You started your business with an idea. After launching, producing, and maintaining, now you find yourself struggling financially. Do you need help? Maybe. Here are 5 signs to help you determine whether you’re making a mountain out of a molehill, or if you should be asking for help.
- Negative cash flow. We’ve touched on this before, but it’s worth saying again: If more money is going out than is coming in, you have negative cash flow. It’s entirely possible for your business to be profitable, but still have negative cash flow. If that’s the case with your business, there are financing options that can help get you back on your feet.
- Can’t meet customer demands. This might mean you can’t keep the inventory you need to satisfy your customers, or maybe it means your equipment doesn’t stay in working condition. No matter how it looks for your business, not being able to provide the services you are in business to provide is a sure sign you need help.
- Unable to grow. Maybe your business doesn’t have negative cash flow, but you also aren’t bringing enough in to expand your business. If you’re looking to grow your profitability, but don’t have the funds on your own, it’s time to explore other financing options to help your business.
- You’re moving locations. Depending on your industry, this could be a very expensive task! Even if your business doesn’t have a large amount of inventory or equipment, there are still all kinds of expenses that could push the cost outside your margins.
- Not enough margin. You’re sweating bullets every time taxes roll around or your office rent is due, hoping you have the funds to cover the essentials. This happens to many businesses at some point, and getting the right business financing can solve this problem altogether for you.
How many of those 5 signs are true for your business? Every company faces their own unique financial challenges, and we believe in working with you to find a financing option that will fit your situation and get you back on your feet again. If you need help bolstering your business’s cash flow, contact us to learn what we can do for you.